UFP Technologies (NASDAQ:UFPT) Issues Quarterly Earnings Results, Beats Expectations By $0.61 EPS

UFP Technologies (NASDAQ:UFPT) issued its quarterly earnings data on Monday. The industrial products company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.31 by $0.61, FiscalAI reports. The company had revenue of $173.96 million during the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.

UFP Technologies Stock Up 5.0%

Shares of UFPT stock traded up $12.75 during trading hours on Monday, reaching $267.53. 189,070 shares of the company’s stock were exchanged, compared to its average volume of 203,545. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 30.37 and a beta of 1.08. UFP Technologies has a fifty-two week low of $173.86 and a fifty-two week high of $279.49. The stock’s 50 day moving average is $241.88 and its 200-day moving average is $228.28.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares in the company, valued at $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director owned 5,476 shares in the company, valued at $1,310,352.04. The trade was a 17.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in shares of UFP Technologies during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its position in UFP Technologies by 1,500.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 165 shares during the period. Canada Pension Plan Investment Board purchased a new stake in UFP Technologies in the 2nd quarter valued at about $49,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of UFP Technologies in the 3rd quarter valued at approximately $51,000. Finally, PNC Financial Services Group Inc. lifted its stake in UFP Technologies by 66.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, UFP Technologies has a consensus rating of “Hold” and a consensus price target of $289.00.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.